Moody's cuts credit ratings of 15 major banks

[Apocalypse]

NEW YORK (AP) -- Moody's Investors Service lowered the credit ratings of 15 major banks Thursday, including Bank of America, JPMorgan Chase and Goldman Sachs, saying their long-term prospects for profitability and growth are shrinking.


.....Some of the largest European banks were also downgraded, including Barclays, Deutsche Bank and HSBC.


http://hosted.ap.org/dynamic/stories/U/US_MOODYS_BANK_DOWNGRADES?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-06-21-17-38-32

Like my retirement stocks haven't taken enough of a beating.

[RobJohnson]

I am not able to get the link to work.

I am not shocked that B of A is on the list.

[Apocalypse]

Here's a list of those downgraded.

1. Bank of America (USA)
2. Goldman Sachs (USA)
3. JPMorgan (USA)
4. Morgan Stanley (USA)
5. Citigroup (USA)
6. Deutsche Bank (Germany)
7. HSBC (UK)
8. Royal Bank of Canada (Canada)
9. Barclays (UK)
10. Credit Agricole SA (CASA) (France)
11. Credit Suisse(Swiss)
12. Royal Bank of Scotland (Scotland)
13. Societe Generale (France/Europe)
14. UBS (Swiss)
15. BNP Paribas (France)


All major international banks. And 2/3rds located in Europe. Not a good sign with the economic issues going on.